Ballard Power Systems Inc.(BLDP)Earnings, Financials & Key Ratios
BLDP•NASDAQ
Price updated Jun 19, 2026
AboutBallard Power Systems Inc. engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power. It also provides technology solutions, including engineering and technology transfer, as well as licenses and sells intellectual property portfolio and fundamental knowledge for various PEM fuel cell applications; and hydrogen fuel cell powertrain and vehicle systems integration solutions. It operates in China, Germany, the United States, the United Kingdom, Canada, Denmark, Norway, Belgium, Japan, France, Spain, Taiwan, Poland, India, Ukraine, Sweden, and internationally. The company has a strategic alliance with Linamar Corporation for the co-development and sale of fuel cell powertrains and components for class 1 and 2 vehicles in North America and Europe. Ballard Power Systems Inc. was founded in 1979 and is headquartered in Burnaby, Canada.Show more
- Revenue$101M+45.0%
- EBITDA-$77M+54.8%
- Net Income-$92M+71.5%
- EPS (Diluted)-0.30+72.2%
- Gross Margin2.37%+107.5%
- EBITDA Margin-76.51%+68.9%
- Operating Margin-80.59%+69.3%
- Net Margin-91.45%+80.3%
- ROE-14.66%+62.4%
BLDP Key Insights
Ballard Power Systems Inc. (BLDP) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Momentum leader: RS Rating 92 (top 8%)
✗Weaknesses
- ✗Profits declining 12.5% over 5 years
- ✗Negative free cash flow
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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BLDP Price & Volume
Ballard Power Systems Inc. (BLDP) stock price & volume — 10-year historical chart
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BLDP Growth Metrics
Ballard Power Systems Inc. (BLDP) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years6%
5 Years-0.53%
3 Years6.47%
TTM42.5%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM71.96%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM71.8%
Return on Capital
10 Years-11.08%
5 Years-13.8%
3 Years-16.24%
Last Year-12.33%
BLDP Recent Earnings
Ballard Power Systems Inc. (BLDP) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 4/12 qtrs (33%)
Q2 2026Latest
May 5, 2026Metric
Actual
Est
EPS
$0.04+33.3%
$0.06
Rev
$19M-4.5%
$20M
Q2 2026
Mar 12, 2026Metric
Actual
Est
EPS
$0.06+14.3%
$0.07
Rev
$33M+3.6%
$32M
Q4 2025
Nov 13, 2025Metric
Actual
Est
EPS
$0.09+18.2%
$0.11
Rev
$33M+1.3%
$32M
Q3 2025
Aug 11, 2025Metric
Actual
Est
EPS
$0.08+20.0%
$0.10
Rev
$18M-29.5%
$25M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 5, 2026 | $0.04vs $0.06+33.3% | $19Mvs $20M-4.5% |
| Q2 2026 | Mar 12, 2026 | $0.06vs $0.07+14.3% | $33Mvs $32M+3.6% |
| Q4 2025 | Nov 13, 2025 | $0.09vs $0.11+18.2% | $33Mvs $32M+1.3% |
| Q3 2025 | Aug 11, 2025 | $0.08vs $0.10+20.0% | $18Mvs $25M-29.5% |
Based on last 12 quarters of dataView full earnings history →
BLDP Peer Comparison
Ballard Power Systems Inc. (BLDP) competitors in Engines and power generation equipment — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 PLUG | 3.27B | 2.85 | -2.02 | 12.9% | -227.13% | -133.36% | 0.99 | |
 FCEL | 1.27B | 24.04 | -3.24 | 41.05% | -132.72% | -31.29% | 0.20 | |
 HYMC | 2.38B | 26.01 | -27.67 | -65.73% | ||||
 BE | 79.07B | 328.91 | -888.95 | 37.33% | 0.25% | 0.79% | 3.77 | |
 HTOO | 5.18M | 2.86 | -2.04 | 7.63% | -6.57% | -298.09% | 0.11 | |
 HYLN | 1.44B | 8.10 | -24.55 | 130.28% | -8.88% | -26.05% | 0.02 | |
 CLNE | 409.62M | 1.86 | -1.84 | 2.56% | -22.65% | -17.17% | 0.18 | |
 WPRT | 39.31M | 2.26 | -0.63 | -92.29% | -80.75% | 0.07 |
Compare BLDP vs Peers
Ballard Power Systems Inc. (BLDP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
BLDP Income Statement
Ballard Power Systems Inc. (BLDP) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 121.29M | 96.59M | 105.72M | 103.88M | 104.5M | 83.8M | 102.37M | 69.73M | 101.14M |
Revenue Growth % | 42.24% | -20.37% | 9.46% | -1.75% | 0.6% | -19.81% | 22.16% | -31.88% | 45.04% |
Cost of Goods Sold | 79.69M | 66.91M | 83.39M | 82.89M | 90.49M | 96.88M | 124.2M | 91.71M | 98.71M |
COGS % of Revenue | 65.7% | 69.28% | 78.87% | 79.8% | 86.59% | 115.61% | 121.33% | 131.52% | 97.6% |
Gross Profit | 41.6M▲ 0% | 29.67M▼ 28.7% | 22.34M▼ 24.7% | 20.98M▼ 6.1% | 14.01M▼ 33.2% | -13.08M▼ 193.3% | -21.83M▼ 66.9% | -21.98M▼ 0.7% | 2.4M▲ 110.9% |
Gross Margin % | 34.3% | 30.72% | 21.13% | 20.2% | 13.41% | -15.61% | -21.33% | -31.52% | 2.37% |
Gross Profit Growth % | 72.01% | -28.67% | -24.72% | -6.06% | -33.22% | -193.35% | -66.89% | -0.69% | 110.92% |
Operating Expenses | 45.92M | 50.21M | 47.78M | 60.74M | 101.99M | 145.8M | 141.07M | 161.32M | 83.91M |
OpEx % of Revenue | 37.86% | 51.98% | 45.2% | 58.48% | 97.59% | 173.99% | 137.81% | 231.34% | 82.97% |
Selling, General & Admin | 20.9M | 23.17M | 20.64M | 24.85M | 37.88M | 41.79M | 38.98M | 37.02M | 26.5M |
SG&A % of Revenue | 17.23% | 23.99% | 19.52% | 23.92% | 36.25% | 49.87% | 38.08% | 53.09% | 26.2% |
Research & Development | 25.02M | 27.04M | 25.26M | 35.52M | 62.16M | 95.95M | 98.31M | 94.49M | 57.47M |
R&D % of Revenue | 20.63% | 27.99% | 23.89% | 34.19% | 59.48% | 114.5% | 96.03% | 135.51% | 56.82% |
Other Operating Expenses | 19K | -62K | 1.89M | 376K | 1.95M | 8.05M | 3.78M | 29.81M | -56.12K |
Operating Income | -4.88M▲ 0% | -20.8M▼ 326.5% | -25.45M▼ 22.3% | -39.76M▼ 56.3% | -87.97M▼ 121.3% | -158.9M▼ 80.6% | -162.9M▼ 2.5% | -183.3M▼ 12.5% | -81.51M▲ 55.5% |
Operating Margin % | -4.02% | -21.53% | -24.07% | -38.28% | -84.18% | -189.62% | -159.14% | -262.87% | -80.59% |
Operating Income Growth % | 73.01% | -326.45% | -22.35% | -56.26% | -121.26% | -80.62% | -2.52% | -12.52% | 55.53% |
EBITDA | 369.12K | -16.04M | -17.93M | -32.2M | -78.31M | -147.71M | -149.38M | -171.33M | -77.38M |
EBITDA Margin % | 0.3% | -16.61% | -16.96% | -31% | -74.93% | -176.26% | -145.92% | -245.7% | -76.51% |
EBITDA Growth % | 102.72% | -4445.17% | -11.8% | -79.58% | -143.17% | -88.63% | -1.13% | -14.69% | 54.83% |
D&A (Non-Cash Add-back) | 5.25M | 4.76M | 7.51M | 7.56M | 9.67M | 11.19M | 13.53M | 11.97M | 4.13M |
EBIT | -5.95M | -25.1M | -33.51M | -47.76M | -96.32M | -158.88M | -135.25M | -321.26M | -81.51M |
Net Interest Income | -732K | -503K | 2.02M | -128.44K | 2.43M | 17.61M | -1.21M | -2.15M | 23.03M |
Interest Income | 0 | 0 | 3.49M | 1.24M | 3.71M | 18.83M | 0 | 0 | 24.96M |
Interest Expense | 732K | 503K | 1.47M | 1.37M | 1.28M | 1.21M | 1.21M | 2.15M | 1.94M |
Other Income/Expense | -1.6M | -6.16M | -9.82M | -9.58M | -26.51M | -15M | 18.85M | -140.11M | -10.94M |
Pretax Income | -6.48M▲ 0% | -26.95M▼ 316.1% | -35.27M▼ 30.9% | -49.34M▼ 39.9% | -114.61M▼ 132.3% | -177.03M▼ 54.5% | -144.05M▲ 18.6% | -323.41M▼ 124.5% | -92.45M▲ 71.4% |
Pretax Margin % | -5.34% | -27.91% | -33.36% | -47.5% | -109.67% | -211.25% | -140.72% | -463.8% | -91.41% |
Income Tax | 1.57M | 370K | 20K | 130K | -216K | -3.54M | 158K | 121K | 51.89K |
Effective Tax Rate % | -24.26% | -1.37% | -0.06% | -0.26% | 0.19% | 2% | -0.11% | -0.04% | -0.06% |
Net Income | -8.05M▲ 0% | -27.32M▼ 239.5% | -39.05M▼ 42.9% | -51.38M▼ 31.6% | -114.4M▼ 122.7% | -173.49M▼ 51.7% | -177.72M▼ 2.4% | -324.25M▼ 82.5% | -92.49M▲ 71.5% |
Net Margin % | -6.64% | -28.29% | -36.94% | -49.46% | -109.47% | -207.03% | -173.61% | -464.99% | -91.45% |
Net Income Growth % | 62.89% | -239.5% | -42.92% | -31.57% | -122.66% | -51.66% | -2.43% | -82.45% | 71.47% |
Net Income (Continuing) | -8.05M | -27.32M | -35.29M | -49.47M | -114.4M | -160.37M | -144.21M | -323.53M | -92.51M |
Discontinued Operations | 0 | 0 | -3.76M | -1.91M | 164K | -13.12M | -33.51M | -715K | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | -0.05▲ 0% | -0.15▼ 228.2% | -0.17▼ 13.3% | -0.20▼ 17.6% | -0.39▼ 95.0% | -0.58▼ 48.7% | -0.61▼ 5.2% | -1.08▼ 77.0% | -0.30▲ 72.2% |
EPS Growth % | 64.85% | -228.23% | -13.33% | -17.65% | -95% | -48.72% | -5.17% | -77.05% | 72.22% |
EPS (Basic) | -0.05 | -0.15 | -0.17 | -0.20 | -0.39 | -0.58 | -0.61 | -1.08 | -0.31 |
Diluted Shares Outstanding | 176.27M | 185.84M | 232.82M | 248.48M | 295.29M | 298.09M | 298.66M | 299.31M | 302.99M |
Basic Shares Outstanding | 176.27M | 185.84M | 232.82M | 248.48M | 295.29M | 298.09M | 298.66M | 299.31M | 302.99M |
Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
BLDP Balance Sheet
Ballard Power Systems Inc. (BLDP) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
Total Current Assets | 102.8M | 261.59M | 229.53M | 854.32M | 1.23B | 1.03B | 864.74M | 698.88M | 600.34M |
Cash & Short-Term Investments | 60.26M | 192.24M | 147.79M | 765.43M | 1.13B | 915.74M | 753.24M | 606.05M | 530.29M |
Cash Only | 60.26M | 192.24M | 147.79M | 763.43M | 1.12B | 913.73M | 751.13M | 603.95M | 526.09M |
Short-Term Investments | 0 | 0 | 0 | 2M | 3M | 2.01M | 2.11M | 2.1M | 4.19M |
Accounts Receivable | 23.08M | 38.52M | 49.32M | 56.8M | 46.33M | 38.59M | 58.56M | 31.98M | 24.16M |
Days Sales Outstanding | 69.46 | 145.58 | 170.26 | 199.56 | 161.82 | 168.1 | 208.82 | 167.41 | 87.18 |
Inventory | 17.29M | 29.31M | 30.1M | 28.52M | 51.45M | 58.05M | 45.87M | 56.42M | 43.69M |
Days Inventory Outstanding | 79.2 | 159.89 | 131.75 | 125.59 | 207.52 | 218.7 | 134.8 | 224.53 | 161.56 |
Other Current Assets | 0 | 0 | 2.32M | 0 | 4.37M | 8.9M | 7.06M | 4.43M | 2.2M |
Total Non-Current Assets | 74.86M | 84.51M | 110.79M | 121.28M | 211.47M | 218.57M | 212.8M | 78.43M | 80.81M |
Property, Plant & Equipment | 15.31M | 21.62M | 42.84M | 49.33M | 55.99M | 82.36M | 116.33M | 30.42M | 32.14M |
Fixed Asset Turnover | 7.92x | 4.47x | 2.47x | 2.11x | 1.87x | 1.02x | 0.88x | 2.29x | 3.15x |
Goodwill | 40.56M | 40.29M | 40.29M | 40.28M | 64.18M | 64.27M | 40.28M | 0 | 0 |
Intangible Assets | 17.95M | 8.29M | 5.69M | 3.76M | 20.76M | 5.21M | 1.41M | 1.76M | 247.55K |
Long-Term Investments | 681K | 13.99M | 21.65M | 27.57M | 70.2M | 66.36M | 54.25M | 45.75M | 47.92M |
Other Non-Current Assets | 348K | 321K | 336K | 343K | 347.53K | 370K | 547K | 495K | 505.08K |
Total Assets | 177.66M▲ 0% | 346.1M▲ 94.8% | 340.32M▼ 1.7% | 975.6M▲ 186.7% | 1.44B▲ 47.5% | 1.25B▼ 13.3% | 1.08B▼ 13.6% | 777.31M▼ 27.9% | 681.15M▼ 12.4% |
Asset Turnover | 0.68x | 0.28x | 0.31x | 0.11x | 0.07x | 0.07x | 0.10x | 0.09x | 0.15x |
Asset Growth % | -3.16% | 94.81% | -1.67% | 186.67% | 47.5% | -13.34% | -13.59% | -27.86% | -12.37% |
Total Current Liabilities | 39.42M | 47.71M | 64.52M | 52.09M | 83.05M | 73.17M | 70.59M | 75.59M | 60.88M |
Accounts Payable | 13.18M | 6.92M | 14.88M | 9.07M | 13.67M | 20.44M | 13.72M | 12.3M | 11.99M |
Days Payables Outstanding | 60.37 | 37.77 | 65.15 | 39.94 | 55.14 | 77.01 | 40.33 | 48.95 | 44.32 |
Short-Term Debt | 0 | 0 | 2.44M | 0 | 3.23M | 0 | 0 | 0 | 3.41M |
Deferred Revenue (Current) | 8.08M | 16.68M | 20.16M | 9.89M | 12.09M | 8.03M | 0 | 6.64M | 8.39M |
Other Current Liabilities | 17.51M | 40.15M | 14.05M | 30.44M | 37.34M | 40.8M | 33.22M | 35.99M | 25.13M |
Current Ratio | 2.61x | 5.48x | 3.56x | 16.40x | 14.78x | 14.06x | 12.25x | 9.25x | 9.86x |
Quick Ratio | 2.17x | 4.87x | 3.09x | 15.85x | 14.16x | 13.26x | 11.60x | 8.50x | 9.14x |
Cash Conversion Cycle | 88.29 | 267.7 | 236.86 | 285.22 | 314.2 | 309.79 | 303.29 | 342.99 | 204.42 |
Total Non-Current Liabilities | 18.38M | 15.79M | 25.54M | 22.62M | 29.53M | 15M | 15.74M | 28.73M | 31.41M |
Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Capital Lease Obligations | 6.23M | 5.06M | 17.31M | 15.18M | 13.86M | 11.84M | 13.39M | 21M | 18.69M |
Deferred Tax Liabilities | 12.7M | 16.61M | 0 | 3.94M | 3.57M | 0 | 0 | 0 | 0 |
Other Non-Current Liabilities | 9.17M | 8.16M | 6.08M | 1.76M | 10.77M | 2.26M | 1.86M | 2.68M | 2.81M |
Total Liabilities | 57.8M | 63.5M | 90.06M | 74.71M | 112.57M | 88.17M | 86.33M | 104.32M | 92.29M |
Total Debt | 6.88M | 5.7M | 19.75M | 17.87M | 17.1M | 15.73M | 17.9M | 23.89M | 22.1M |
Net Debt | -53.37M | -186.54M | -128.04M | -745.56M | -1.11B | -898M | -733.23M | -580.05M | -503.99M |
Debt / Equity | 0.06x | 0.02x | 0.08x | 0.02x | 0.01x | 0.01x | 0.02x | 0.04x | 0.04x |
Debt / EBITDA | 18.64x | - | - | - | - | - | - | - | - |
Net Debt / EBITDA | -144.60x | - | - | - | - | - | - | - | - |
Interest Coverage | -8.13x | -49.90x | -22.84x | -34.82x | -75.10x | -130.77x | -111.41x | -149.70x | -42.05x |
Total Equity | 119.86M▲ 0% | 282.6M▲ 135.8% | 250.26M▼ 11.4% | 900.89M▲ 260.0% | 1.33B▲ 47.2% | 1.16B▼ 12.6% | 991.22M▼ 14.5% | 672.99M▼ 32.1% | 588.86M▼ 12.5% |
Equity Growth % | -1.39% | 135.78% | -11.44% | 259.98% | 47.23% | -12.63% | -14.47% | -32.1% | -12.5% |
Book Value per Share | 0.68 | 1.52 | 1.07 | 3.63 | 4.49 | 3.89 | 3.32 | 2.25 | 1.94 |
Total Shareholders' Equity | 119.86M | 282.6M | 250.26M | 900.89M | 1.33B | 1.16B | 991.22M | 672.99M | 588.86M |
Common Stock | 986.5M | 1.17B | 1.18B | 1.88B | 2.41B | 2.42B | 2.43B | 2.43B | 2.43B |
Retained Earnings | -1.16B | -1.18B | -1.22B | -1.28B | -1.39B | -1.56B | -1.74B | -2.06B | -2.15B |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | 204K | 851K | 813K | 907K | 1.72M | -1.49M | -2.96M | -4.76M | -1.6M |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
BLDP Cash Flow Statement
Ballard Power Systems Inc. (BLDP) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | -9.77M | -31.69M | -14.23M | -42.93M | -80.48M | -132.17M | -104.57M | -108.1M | -57.15M |
Operating CF Margin % | -8.05% | -32.81% | -13.46% | -41.33% | -77.01% | -157.72% | -102.15% | -155.02% | -56.51% |
Operating CF Growth % | -150.2% | -224.41% | 55.09% | -201.71% | -87.44% | -64.24% | 20.88% | -3.37% | 47.13% |
Net Income | -8.05M | -27.32M | -39.05M | -51.38M | -114.23M | -173.49M | -177.72M | -324.25M | -92.51M |
Depreciation & Amortization | 5.06M | 5.01M | 7.51M | 7.56M | 9.75M | 13.77M | 13.53M | 11.97M | 4.13M |
Stock-Based Compensation | 3.13M | 2.9M | 3.56M | 6.24M | 9.67M | 9.41M | 10.96M | 7.46M | 0 |
Deferred Taxes | 2.63M | 6.1M | 14.24M | 12.6M | -300K | -3.58M | 0 | 0 | 0 |
Other Non-Cash Items | -270K | -1.1M | -392K | -832K | 26.24M | 39.66M | 65.75M | 191.48M | 12.86M |
Working Capital Changes | -12.27M | -17.28M | -107K | -17.12M | -11.6M | -17.94M | -17.09M | 4.98M | 18.36M |
Change in Receivables | -9.72M | -11.11M | -14.83M | -2.2M | 9.64M | -2.94M | -12.91M | 13.35M | 6.15M |
Change in Inventory | -572K | -12.93M | -787K | 1.35M | -23M | -11.14M | -898K | -16.95M | 10.25M |
Change in Payables | 7.1M | -5.29M | 11.34M | -4.46M | 0 | 0 | 0 | 0 | -8.47M |
Cash from Investing | -6.48M | -23.11M | -32.75M | -36.39M | -85.63M | -75.56M | -54.28M | -36.51M | -21.31M |
Capital Expenditures | -6.44M | -9.85M | -13.93M | -12.87M | -13.16M | -33.93M | -41.21M | -25.85M | -10.36M |
CapEx % of Revenue | 5.31% | 10.2% | 13.18% | 12.39% | 12.59% | 40.49% | 40.26% | 37.07% | 10.24% |
Acquisitions | -1.02M | -14.61M | -20.95M | -22.52M | -19.51M | -24.17M | -2M | -100K | 81.4K |
Investments | - | - | - | - | - | - | - | - | - |
Other Investing | -2.35M | 1.34M | 2.14M | -1.01M | -1.54M | -550K | -154K | 1.4M | 0 |
Cash from Financing | 5.02M | 186.14M | 2.57M | 696.53M | 526.91M | -2.41M | -3.68M | -1.53M | -2.63M |
Debt Issued (Net) | -607K | -598K | -2.05M | -2.52M | -2.8M | -3.32M | -4.01M | -3.33M | -3.04M |
Equity Issued (Net) | 0 | 183.67M | 0 | 694.61M | 527.29M | 0 | 0 | 0 | 467.04K |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Financing | 5.62M | 3.06M | 4.62M | 4.44M | 2.42M | 916K | 335K | 1.8M | -53.27K |
Net Change in Cash | -12.37M▲ 0% | 131.98M▲ 1166.7% | -44.44M▼ 133.7% | 615.64M▲ 1485.2% | 360.46M▼ 41.4% | -210.16M▼ 158.3% | -162.6M▲ 22.6% | -147.18M▲ 9.5% | -77.5M▲ 47.3% |
Free Cash Flow | -16.21M▲ 0% | -41.54M▼ 156.2% | -28.16M▲ 32.2% | -55.8M▼ 98.1% | -95.18M▼ 70.6% | -166.65M▼ 75.1% | -145.94M▲ 12.4% | -135.72M▲ 7.0% | -67.17M▲ 50.5% |
FCF Margin % | -13.37% | -43.01% | -26.64% | -53.72% | -91.07% | -198.87% | -142.56% | -194.63% | -66.41% |
FCF Growth % | -50.32% | -156.24% | 32.2% | -98.13% | -70.57% | -75.1% | 12.43% | 7% | 50.51% |
FCF per Share | -0.09 | -0.22 | -0.12 | -0.22 | -0.32 | -0.56 | -0.49 | -0.45 | -0.22 |
FCF Conversion (FCF/Net Income) | 1.21x | 1.16x | 0.36x | 0.84x | 0.70x | 0.76x | 0.59x | 0.33x | 0.62x |
Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
BLDP Key Ratios
Ballard Power Systems Inc. (BLDP) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | -18.6% | -6.67% | -13.58% | -14.66% | -8.93% | -10.27% | -13.96% | -16.53% | -38.97% | -14.66% |
Return on Invested Capital (ROIC) | -19.89% | -5.95% | -19.19% | -17.49% | -21.49% | -35.05% | -49.44% | -47.09% | -78.35% | -68.77% |
Gross Margin | 28.36% | 34.3% | 30.72% | 21.13% | 20.2% | 13.41% | -15.61% | -21.33% | -31.52% | 2.37% |
Net Margin | -25.43% | -6.64% | -28.29% | -36.94% | -49.46% | -109.47% | -207.03% | -173.61% | -464.99% | -91.45% |
Debt / Equity | 0.06x | 0.06x | 0.02x | 0.08x | 0.02x | 0.01x | 0.01x | 0.02x | 0.04x | 0.04x |
Interest Coverage | -29.70x | -8.13x | -49.90x | -22.84x | -34.82x | -75.10x | -130.77x | -111.41x | -149.70x | -42.05x |
FCF Conversion | 0.18x | 1.21x | 1.16x | 0.36x | 0.84x | 0.70x | 0.76x | 0.59x | 0.33x | 0.62x |
Revenue Growth | 51.02% | 42.24% | -20.37% | 9.46% | -1.75% | 0.6% | -19.81% | 22.16% | -31.88% | 45.04% |
Related:BLDP Dividend History·BLDP Revenue History·BLDP Price History·BLDP P/E History·BLDP Financial Ratios·BLDP Institutional Holders
BLDP Frequently Asked Questions
Ballard Power Systems Inc. (BLDP) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Ballard Power Systems Inc. (BLDP) reported $99.4M in revenue for fiscal year 2025. This represents a 429% increase from $18.8M in 1996.
Ballard Power Systems Inc. (BLDP) grew revenue by 45.0% over the past year. This is strong growth.
Ballard Power Systems Inc. (BLDP) reported a net loss of $90.9M for fiscal year 2025.
Dividend & Returns
Ballard Power Systems Inc. (BLDP) has a return on equity (ROE) of -14.7%. Negative ROE indicates the company is unprofitable.
Ballard Power Systems Inc. (BLDP) had negative free cash flow of $66.2M in fiscal year 2025, likely due to heavy capital investments.